Locus of control and risk-taking propensity as predictors of entrepreneurial disposition among national youth service corps members in Kogi State
Keywords:
locus of control, risk taking propensity, entrepreneurial disposition, entrepreneurshipAbstract
This study investigated the role of locus of control and risk taking propensity as predictors of entrepreneurial disposition among Nigeria Youth Service Corps members in Kogi State. The study employed survey research method; a convenience sampling technique was used in the collection of data. The study made use of standardized questionnaires to collect data for the study which were Entrepreneurial Intention Scale (EIS), Levenson IPC (I-Internality, P-Powerful others and C-Chance) Scale, Risk-Taking Propensity (RTP) scale with reliability coefficient of 0.78, 0.83, and 0.78 respectively, questionnaires were administered to the corps members in their various community development groups. A total number of 311 participated in the study of with 139 males and 174 females respectively. Four hypotheses were formulated, result obtained were analyzed using t-test of independent and multiple regression analysis. The result revealed that internal locus of control significantly influenced entrepreneurial disposition [t (309) = 7.93; p < .01] and all its components. Why external locus of control significantly influenced entrepreneurial disposition [t (309) = 2.85; p < .05] but regarding its components, external locus of control did not significantly influence all its components. Also, the result indicated that risk taking propensity significantly influenced entrepreneurial disposition [t (309) = 6.84; p < .01], and all its components. It further revealed that locus of control and risk taking propensity jointly predicted entrepreneurial disposition significantly [R2= 0.43, F (2, 308) = 115.72, p < .01]. And regarding independent prediction, internal locus of control (β = 0.44; t = 5.51, < .01) and risk taking propensity (β = 0.31; t = 6.00, P < .01) independently predicted entrepreneurial disposition significantly. Thus, the study concluded that entrepreneurs are better disposed to successful entrepreneurial venture when they possess the required qualities for successes in entrepreneurship and that failures of many ventures among other factors could be attributed to lack of required qualities or traits that drive the individual into a successful venture. Finally, the study recommended that entrepreneurs should first determine their suitability as to whether they possess the require quality for successes in entrepreneurship before investing, government and non government organization should first determine whether an individual has the required personality attributes that predispose them so a successful venture before investing in them.
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